Yes. Ideally it would be blinkies related to the Raw data as opposed to those related to an sRGB rendered image.

Jack, are you aware of any cameras that offer a raw histogram display option?

Unfortunately not, Dan, I've been waiting patiently for years and I know that, at least for me, it would be a very good incentive to buy a new camera (are you listening manufacturers?). This is an issue that has only become relevant in the last few years (since Exmor, really) with PDRs that jumped from nineish (which typically fit within most output devices) to elevenish (which don't). Before most manufacturers squeezed highlights above middle gray in order to capture shadows. Now they no longer have to as much, so intermediate photographers have choices that are harder to make without a proper raw histogram/blinkies and two separate input referred (a 'gain' of sorts) and output referred (average image brightness of sorts) 'ISO's.